John Hancock Preferred Income Fund II (NYSE:HPF) Share Price Passes Above 50-Day Moving Average – Time to Sell?

John Hancock Preferred Income Fund II (NYSE:HPF)’s stock price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $17.43 and traded as high as $18.91. John Hancock Preferred Income Fund II shares last traded at $18.69, with a volume of 47,743 shares.

John Hancock Preferred Income Fund II Trading Down 0.9 %

The business has a 50-day moving average of $17.43 and a 200-day moving average of $17.03.

John Hancock Preferred Income Fund II Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Friday, October 11th will be given a $0.1235 dividend. This represents a $1.48 annualized dividend and a yield of 7.93%. The ex-dividend date is Friday, October 11th.

Hedge Funds Weigh In On John Hancock Preferred Income Fund II

Several institutional investors have recently bought and sold shares of the company. Axim Planning & Wealth grew its position in John Hancock Preferred Income Fund II by 120.3% in the 2nd quarter. Axim Planning & Wealth now owns 368,273 shares of the company’s stock valued at $6,250,000 after acquiring an additional 201,080 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in John Hancock Preferred Income Fund II by 9.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 67,813 shares of the company’s stock valued at $1,121,000 after acquiring an additional 5,768 shares in the last quarter. One Capital Management LLC acquired a new position in John Hancock Preferred Income Fund II in the 2nd quarter valued at about $1,125,000. Commonwealth Equity Services LLC grew its position in John Hancock Preferred Income Fund II by 5.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 65,032 shares of the company’s stock valued at $1,104,000 after acquiring an additional 3,361 shares in the last quarter. Finally, Wedbush Securities Inc. grew its position in John Hancock Preferred Income Fund II by 20.2% in the 2nd quarter. Wedbush Securities Inc. now owns 22,229 shares of the company’s stock valued at $377,000 after acquiring an additional 3,729 shares in the last quarter.

About John Hancock Preferred Income Fund II

John Hancock Preferred Income Fund II is a closed ended fixed income mutual fund launched and managed by John Hancock Investment Management LLC. It is co-managed by John Hancock Asset Management. The fund invests in the fixed income markets of the United States. It seeks to invest in securities of companies operating across diversified sectors.